As we dig into the meat of the final quarter of 2013, we suggest businesses take a serious look at their current document filing practices. Many companies keep on storing more documents year after year because they have no idea when they are supposed to get rid of them. By default, they typically remain in a heap in the back corner of the most distant warehouse, tucked away in a basement or attic, or out of sight out of mind at an expensive storage facility. No matter what, the paperwork is eating up valuable resources that should be put to better uses. For companies that have been in operation for many years, this can become a considerable burden—especially if management has been purchasing expensive filing cabinets to store the old records or paying rent at a storage facility.
We suggest management work with the company’s CPA’s and lawyers to construct a document-destruction policy. The policy should take into account the document retention requirements of all federal, state, and local regulatory agencies, always adopting the longest required retention periods.
The next step is to eliminate all items for which there is no legal reason to keep. Bringing in an on-site shredding service provides the assurance of witnessing the proper disposal as well as the benefit of the certificate of destruction to demonstrate due diligence with respect to the law. In addition to seeing significant savings in storage space and efficiency, companies can also feel good about the fact that the shredded paper will be recycled.
For more information on on-site document destruction, please visit www.hvshred.com